PM Modi sends Rs 17,100 Crore to the bank accounts of over 8 Crore farmers

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Prime Minister Narendra Modi today transferred Rs 17,100 crore to farmers’ over 8.5 crore bank accounts under the PM-KISAN program, aiming to provide them with direct support of ₹ 6,000 per year.

The amount was part of the sixth installment of the program launched in 2018. The government claims to have provided a direct cash benefit of over Rs. 75,000 Crore to over 9.9 Crore farmers under the program.

The announcement was made during the launch of a financing facility for agro-entrepreneurs, startups, agro-technological players and farmer groups for post-harvest management and valuation of agricultural assets.

The government has set aside Rs 1 lakh crore for the new Agricultural Infrastructure Fund to catalyze the creation of post-harvest management infrastructure and community agricultural assets such as cold stores, collection centers, processing units, etc.

Under the PM-KISAN program, each farmer receives up to ₹ 6,000 per year as minimum income support, and the scheme is fully funded by the central government.

Launched in December 2018, the Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN) program has provided a direct cash benefit of over Rs. 75,000 Crore to over 9.9 Crore farmers, according to the government.

The funds are transferred directly to the bank account of beneficiaries authenticated by Aadhaar to prevent leakage and increase convenience for farmers.

The program has also helped support farmers during the Covid-19 pandemic, with the release of nearly Rs 22,000 crore to help farmers during the lockdown, the government said.

More than 9 crore farmers registered under the program between December 2018 and November 2019, he said. Of these, 7.62 crore or 84 percent of farmers received the first installment.

The second installment money was given to nearly 6.5 crore farmers and the third installment amount was given to 3.85 crore recipients, according to data received in response to an RTI query.

The beneficiary data thus uploaded by them is subject to verification at several levels, including by banks, and only then the amount is released to the beneficiary, he said, adding that the website www.pmkisan.gov.in was accessible for more details. on the operational guidelines of the plan.

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